Business Tax- Incorrect Profits on Extended Periods
Article ID
business-tax-incorrect-profits-on-extended-periods
Article Name
Business Tax- Incorrect Profits on Extended Periods
Created Date
18th December 2023
Product
IRIS Business Tax
Problem
IRIS Business Tax- Incorrect Profits on Extended Periods
Resolution
There are two different issues- read both fixes
1) IRIS is aware of an issue within the latest release in Business tax affecting the profits in extended periods. Please update IRIS version 23.4.0 to fix this. Do ask your I.T department to install the version.
2) The incorrect values only appear when you group the two computations together when printing the paper copy. When generating the electronic return, the computation produced will be correct. Additionally, running paper copies individually (and do not tick the box to group them together), this will show the correct values in the computations. Therefore, the workaround would be to not tick the box to print both computations together.
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